On the 22nd of December, 2017, the President signed into law H.R. 1, "An act to provide for reconciliation pursuant to titles II and V or the concurrent resolution on the budget for fiscal year 2018," otherwise known as the Tax Cuts and Jobs Act.
In addition to a new set of personal income tax brackets, there are numerous changes that will impact you and your business. We have summarized these, below.
If you have specific questions on how this will impact you, or to strategize your tax planning accordingly, please make an appointment with one of our CPAs, by calling us at (805) 650-5915, or emailing email@example.com.